Phio Pharma Stock Quadruples On Positive Data From Cancer Treatment Trial: Retail’s Elated

Shares of Phio Pharmaceuticals Corp. surged 330% Monday afternoon, reaching their highest levels in nearly eight months, to become the top gainer across U.S. bourses. 

This explosive move followed the announcement of positive results from a Phase 1b trial of its cancer treatment, PH-762, which is designed to enhance the immune system’s ability to target tumors. 

Trading volume soared to over 220 times the daily average, drawing significant attention from retail investors.

Phio revealed that patients in the second cohort of its ongoing trial exhibited these pathologic responses: Two patients with cutaneous squamous cell carcinoma experienced a complete response (100% tumor clearance); one patient had a partial response (90% tumor clearance); one patient maintained stable disease, with no progression.

The trial focuses on evaluating PH-762 for neoadjuvant use in Stages 1, 2, and 4 cutaneous squamous cell carcinoma, Stage 4 melanoma, and Stage 4 Merkel cell carcinoma. 

Importantly, no dose-limiting toxicities or clinically relevant adverse events have been reported, and the intratumoral injections have been well tolerated, the company said.

Mary Spellman, Acting chief medical officer of Phio, expressed optimism about the tumor responses, saying, “We look forward to continued enrollment which will permit assessment of higher dose concentrations of PH-762.” 

"These positive results in the early stages of dose escalation offer promise for our vision, 'striving for a cancer free future' using INTASYL technology" said CEO Robert Bitterman.

PHIO sentiment meter and message volume Jan 13 as of 12:15 pm ET | source: Stocktwits

On Stocktwits, sentiment for Phio spiked to 'extremely bullish' levels, with users sharing optimistic price targets and success stories.

Phio’s stock has gained nearly 15% over the past 12 months, with Monday’s rally marking a sharp shift in momentum. 

Investors are closely watching for further enrollment updates and results from higher dose concentrations in the ongoing trial.

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